S. Korea¡¯s Boryung Medience partners with Alibaba¡¯s Tmall

2018.01.23 15:07:37 | 2018.01.23 15:34:54

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Boryung Medience Co., a South Korean manufacturer of baby and mother care products, has teamed up with Alibaba¡¯s ecommerce platform Tmall to cement its leadership in the world¡¯s largest consumer market.

The Korean company said Tuesday it struck a strategic partnership with Tmall, an online marketplace run by Chinese ecommerce giant Alibaba Group. Tmall is the world¡¯s largest business-to-consumer ecommerce platform with over 100 million users a day.

Boryung Medience is engaged in the development and marketing of a range of products for mothers and babies, from skincare products and pacifiers to toys and baby food.

The firm first entered China in 2013 by setting up a local entity in Tianjin and has since been showing solid growth. In November, it raked in 4.4 billion won ($4.11 million) in sales on Singles¡¯ Day, a one-day annual shopping bonanza hosted by Alibaba.

The Korean company hopes the enhanced partnership with Tmall would help further increase its brand awareness in China and drive online traffic so that it can solidify its No. 1 position in the Chinese baby care market and broaden its reach in the global market.

Shares of Boryung Medience closed Tuesday down 5.1 percent at 14,900 won.

By Lee Yoo-jin and Kim Hyo-jin

[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]